Renewables energy sector wages increasing fast

A report revealed today has shown that waged in the renewables energy sector are increasing at a faster pace than any other energy sector. The information is taken from a quarterly report on live economic and jobs data gleaned by oilandgaspeople.com. The report found the pressure on jobs in the sector has lead to an increase in wages in some specialist posts of more than 30%.

Report statistics

The report compared more than 20 000 jobs in the energy industry over three months and found that engineers in the fuel cell sector had benefited from a 33% wage increase. The report also discovered that wages in the biomass sector had increased by 18%, geothermal 9%, solar 8% and tidal 11%. The wind power sector benefited from the smallest increase of 0.5%.

Compared to jobs in the more traditional sector, the growth rate is substantially higher. Over the same period wage increases in the North Sea Oil and Gas sector only increased 5% on average. However, there are some jobs that are suffering due to the skills gap in this sector so day rates for well supervisors and drill superintendents did in some respects increase up to 17%.

Comments

‘The quarterly jobs report from oilandgaspeople.com is a robust measure of wages in the industry with live economic data on actual jobs posted and awarded within the industry,’ said Kevin Forbes, CEO of the company.

‘The uncertainty over investment in renewables recently has only hit the wind sector, which is no surprise. Despite subsidiaries increasing by 10% under the government’s reforms of the electricity market next year, the contracts for difference will run for only 15 years compared to 20 years under the old system. Employment levels are now stable in the sector, but with continuing uncertainty over investment, wages will see small increases for some time.

‘While the wages in the fuel cell industry have seen a huge jump, this is no surprise as 2012 was a breakout year for the sector with many companies seeing profit for the first time. With increased investment and annual installed capacity set to top 200 MW in 2013, the big utility companies are now taking this sector very seriously.

‘The 5% overall wage inflation in the North Sea Oil and Gas industry for the last three months is impressive and looks set to increase faster in the next six months as new investment continues to come into the industry. Yet the skills shortage is still having an impact with some jobs in the offshore industry seeing big increases. Demand for well superintendants, drilling supervisors, toolpushers and drillers has pushed up wages quickly. There is still a real need for the government to step in and incentivise companies to invest more in people urgently,’ Forbes continued.

‘There is a lot of press around North Sea oil being in decline, but the truth is there is still 30 – 40 years left in the North Sea and that estimate increases all the time as new fields are discovered and come online. Anyone looking to get into the industry now will enjoy a career that will last their lifetime easily,’ Forbes concluded.